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2017 (1) TMI 681 - AT - Income TaxRevision u/s 263 - mistake in the computation of income - reduction of entire rent received during the year - assessee entitled to vacancy allowance - Held that:- The attention of assessee was invited on computation of income for the year ended on 31.03.2011, wherein the assessee has reduced the entire rent received during the year. AR fairly conceded the mistake in the computation of income and further admitted that the assessment is based on the computation of income which is erroneous. We have further drawn the attention of ld. AR of the assessee to the letter dated 02.05.2011 (page no. 20 of PB) which was issued by Estate Consultant certifying that Flat No. 61, Kalpataru Royale, Sion, Mumbai was lying vacant since 2009. On further asking, if this document was filed before the AO, the ld. AR of the assessee, fairly conceded that it was not filed during the assessment proceedings. We may observe that this letter is not sufficient evidence to prove that property was lying vacant since 2009 in absence of other corroborative evidence like electricity or water bills of relevant period. Thus, we instead of going merit and demerit on admissibility of this evidence are of the opinion that even this document required verification at the end of AO. On examination on computation of income and the order of AO, we find that the order passed by ld. CIT fulfills the twin condition of section 263 of the Act i.e. the order passed by AO was erroneous as well as certainly prejudicial to the interest of Revenue. Thus, we do not find any reason to interfere with the order of ld. CIT, hence, the appeal filed by assessee is dismissed.
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